FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Up 6.4% in December

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 437,900 shares, a growth of 6.4% from the November 30th total of 411,400 shares. Based on an average daily volume of 144,600 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.8% of the company’s shares are sold short.

FlexShopper Price Performance

NASDAQ:FPAY opened at $1.71 on Thursday. The company has a debt-to-equity ratio of 19.65, a quick ratio of 7.98 and a current ratio of 7.98. The company has a 50-day moving average of $1.61 and a 200-day moving average of $1.31. FlexShopper has a 52 week low of $0.97 and a 52 week high of $2.19. The company has a market capitalization of $36.70 million, a price-to-earnings ratio of -10.06 and a beta of 1.43.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FPAY. Maxim Group upped their price target on shares of FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a report on Friday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a research report on Tuesday, December 24th.

Insider Activity at FlexShopper

In other news, CEO Harold Russell Jr. Heiser bought 30,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $1.45 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the chief executive officer now directly owns 969,874 shares of the company’s stock, valued at $1,406,317.30. This trade represents a 3.19 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 30.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Waterfall Asset Management LLC bought a new stake in shares of FlexShopper in the 3rd quarter valued at approximately $1,678,000. Renaissance Technologies LLC raised its stake in FlexShopper by 30.0% during the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 50,847 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in shares of FlexShopper during the second quarter valued at $58,000. Institutional investors own 19.41% of the company’s stock.

About FlexShopper

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.